There aren't a lot of day traders who would be willing to bare it all in public, but that's exactly what Ross Cameron has done in his new book, How to Day Trade: The Plain Truth.

Such a candid tell-all comes as no surprise to anyone who knows the trader who, since January 2017, has turned $583.15 into over $10 million - a remarkable, if far from typical, result. On his website, he regularly publishes his full trading account details, showing the world when he's lost money as well as when he's made a profit. It's this honest account of the day-trading business - and a deep belief in transparency - that spurred Cameron to write the book in the first place.

How to Day Trade: The Plain Truth is a no-holds-barred read for people who want to deeply understand what day-trading is. It isn't a thinly veiled sales pitch. It does as much to dissuade people from trading as it does to encourage them.

Ross Cameron's Book Is Dedicated to You

'If you have dreamed of becoming a day trader, this book is dedicated to you. You and I are so much alike,' Cameron declares in the book's dedication. 'We share the same dream and I hope we have the same drive. I'm just a little farther down the path than you. I'm here to support you, and I hope this book is a way of sending the ladder back down to help you in your journey.'

How he prepares budding traders in the early chapters of the book is to tell them what they're in for in precise detail.

Chapter one, 'The Myth and the Reality,' paints a realistic picture of what it takes to be a professional day trader. In it, Cameron begins to unravel the myths and misconceptions of day-trading, while in chapter two, he provides an honest account of how he came to day-trading - including the missteps, mistakes, and tribulations he endured along the way.

Ross Cameron next addresses a whole load of questions he's been asked about trading over the years. For instance, isn't day-trading simply a form of gambling? After all, he says anyone can open a brokerage account, fund it with a deposit, and start mashing the buy and sell buttons. Doing just this, in the hope of getting rich, is gambling.

'Let there be no doubt: Some people gamble in the stock market. That does not mean that the profession of day-trading equals gambling,' he explains.

What Separates Professional Traders From Gamblers

Cameron compares day-trading and gambling to a professional card counter at the blackjack table or a professional poker player. 'Both are highly trained and highly disciplined people. They know with a fair degree of statistical confidence when to hold 'em and when to fold 'em. With strategy and discipline, they can actually push the odds for long-term success in their favor. Day-trading is very similar in this way. Those who approach trading with strategy and discipline have the best chance of pushing the odds in their favor.'

But the beauty of day-trading, Ross Cameron writes, is that there are several steps you can take to affirmatively reduce your risk. And by first reducing your risk, you can begin the process of developing strategy and discipline in a safe environment.

In the remaining chapters, Cameron starts to share the tools and knowledge that day traders need to ply their craft. He outlines the gear traders need - like the type of computer you should get - and what you don't need, how to set up an efficient trading area at home or in the office, what to bring if you want to trade while on a trip, and why you should consider starting in a trading simulator rather than the live markets.

Then, Cameron provides a clear description of stock market basics, such as equity versus debt financing, the different types of stock, and how stock gets issued and traded. He provides his readers with a blow-by-blow understanding of the crucial concepts needed to know about how and why stocks move, as well as short selling, and whether or not traders should try it.

The Trader's Mind, According to Ross Cameron

Perhaps some of the most fascinating chapters are those in which Cameron details the psychology of trading.

'I don't want to be overly dramatic when I say that a battle will soon happen between your ears if you choose to day-trade. On the one hand, you're not going into real combat. But what I see too often on social media is a casual approach to day-trading, as if it's a hobby like gardening,' he writes. 'I was reading about a guy who bragged that he traded on his phone at stop lights. While driving for Uber. He might be trading, and he might even be day-trading, where he closes out all of his positions before the end of the day. But he is by no means what I would call a true day trader.'

To be a genuine day trader, says Ross Cameron, you need to work hard to put several things in place.

'You must understand the terminology and how markets work. This book is a solid introduction to that knowledge, but there's always more to learn. You need certain equipment and assets; for example, you need a brokerage account to trade in, the appropriate equipment, and at least minimum funding of your account,' Ross Cameron writes. 'You must understand how very risky day-trading is. The chances of succeeding long term are severely stacked against you - unless you take every opportunity to reduce those risks.'

To buy Ross Cameron's new book in electronic format ($9.95), softcover ($18.95), or hardback ($24.95), find it at your favorite online retailer and warriortrading.com.

The information provided in this article, including in the book How to Day Trade: The Plain Truth, is for educational and informational purposes only and should not be construed as financial advice. Day-trading involves a significant risk of loss and is not suitable for all investors. Readers should consider their financial situation, objectives, and risk tolerance before engaging in day-trading. Past performance is not indicative of future results. It is recommended to consult with a qualified financial advisor before making any investment decisions.

Disclosure: This is sponsored content. The sponsorship may include, but is not limited to, payment for article placement to the publication, compensation to the writer for their time, or other arrangements.